Financing Climate Justice : Scotland at COP26

Financing Climate Justice: Scotland at COP26

At Jubilee Scotland we have been part of many campaigns calling for debt relief and the cancellation of unjust debt in the global south. Adding to the unjust sovereign debt that many nations need relief for financially, there is another type of debt that needs to be addressed by it’s systemic nature, debt incurred by climate change.  Climate change does not affect people equally. Those individuals, communities and countries affected the most by climate change are also those who have contributed the least to it. Everyday in the global south, there are droughts, natural disasters, food shortages and loss of habitat, as a result of the climate crisis. Many of the affected countries go into debt, because they lack additional finances to respond to these climate disasters.

At the same time, climate change is primarily caused by rich, high-emission countries, including the UK and Scotland. We therefore owe a moral debt to those countries and communities that suffer the most from climate change.  

The 26th Conference of the Parties (COP26) which takes place in Glasgow in November 2021 is set to be the most important UN climate conference for years. COP26 will focus on the immediate need for dramatic climate mitigation targets to be set by Scotland and other world leaders. Additionally, global south countries will be looking for finance initiatives, as more funding is necessary to adapt to the devastating impact of the climate crisis.

In partnership with Oxfam Scotland, Stop Climate Chaos Scotland and SCIAF, we have been researching the ways that the Scottish government can make a meaningful impact at COP26. The Scottish Government has previously committed to putting the voices of people affected by climate change at the heart of the conference. By increasing the Climate Justice Fund and developing a position on loss and damage and championing this issue at COP26, Scotland can show it is serious about its commitment to climate justice and set an example for other global north countries. 

Anne Funnemark, campaign director at Jubilee Scotland and lead author of the report has said: “The climate emergency is, quite literally, costing the earth for developing countries. Ahead of COP26 in Glasgow, rich countries must demonstrate that they will stand shoulder to shoulder with the world’s poorest people by offering more financial support to countries on the frontline of the climate emergency to adapt to climate change while also compensating them for their losses.”

We’re calling on the Scottish Government to :

• Significantly increase the Climate Justice Fund with new and additional finance, such as from a high-emitter tax

• Proactively call for other rich countries, including the UK, to increase their own climate finance informed by a Fair Shares analysis, while championing additionality before and at COP26

• Undertake a review of the Climate Justice Fund to build on its success, ensuring that it is fully aligned with best practice in climate adaptation globally

• Develop a position on loss and damage and use this to champion progress on it at COP26. Namely, a financial mechanism for the WIM and meaningful development of the Santiago Network

Read the report here, or through our viewer below.

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